Turkmen Bank Begins Issuing Contactless Payment Cards

Turkmen Bank Begins Issuing Contactless Payment Cards
The main importance of the system that will be launched in Rysgal bank is that it is the first time contactless payment technology is introduced in Turkmenistan.

Rysgal bank, the private joint-stock commercial bank of Turkmenistan, offers its customers the Mastercard Maestro cards that allow contactless payments. The card is a manat plastic card on which the salaries of its owners in national currency are proposed to be credited. The card will enable contactless payments with a set limit of 50 manats.

Operations with MasterCard plastic cards are not new for Turkmen banks. The main importance of the system that will be launched in Rysgal bank is that it is the first time contactless payment technology is introduced in Turkmenistan.

The advantage of such cards is the ease of use, the speed and security of payments. Their owners can make instant payments for goods and services with one touch without inserting it into the payment terminal, both in Turkmenistan and abroad. This requires special payment terminals capable of accepting contactless payments.

MasterCard technological solutions have the ability to complement and diversify the services offered. On the basis of such decisions, the bank plans to introduce the “Loyalty Program”, which implies the accumulation of bonuses for the purchase of goods in supermarkets and stores in Turkmenistan.

MasterCard Standard is a bank card, which is expected to be replenished only in foreign currency. For the convenience and attractiveness of the services to customers, as well as economic feasibility for the bank, the bank is expected to establish a favorable rate for a one-time cash withdrawal at ATMs in Turkmenistan and abroad, as well as for cashless payments and Internet payments.

MasterCard Gold is a plastic card, which is also expected to be replenished only in foreign currency, but it differs from the MasterCard Standart in a higher limit for cash withdrawals per month and non-cash payments. An additional advantage of this card is the special types of services that will be available to its holder in the future.

Such as Concierge Service – facilitates travel arrangements around the world, ticket purchases, hotel selection and booking, and BoinGo Wi-Fi service - an unlimited access to wireless internet at airports, hotels, cafes and restaurants around the world, even on board an airplane.

MasterCard Platinum is a premium class plastic card, which involves replenishment only in foreign currency. Holders of this card will be able to conduct unlimited cash withdrawals and cashless payments.

The bank currently plans to gradually introduce internet banking services for all types of MasterCard plastic cards. Internet banking makes it possible to conduct transactions using personal computers, receive information about all payments without having to go to an ATM or terminal, provides SMS notification services and round-the-clock access to the Bank's Call Center.

In other words, the client can manage the funds in the account to which the payment card is issued, without leaving home or office, while simply relaxing in the resort anywhere in the world, 24 hours a day, 7 days a week.

Turkmens have already fully appreciated the benefits of e-wallets and cashless payments. In addition to the convenience for users, cardholders, electronic financial services reduce the cost and increase the reliability of money transfers.

International plastic cards are essential for specialists whose work involves foreign travel, as well as for those who go on vacation abroad. Regardless of the currency in which money was deposited to the card, it will be converted to pay for services and goods in the host country.

The currency will be converted automatically at preferential rates. If you lose your card, you can block it and then get a new one, while the money remains in the account under the protection of the bank.